Business News of Monday, 19 May 2025

Source: www.legit.ng

List of 10 most expensive States to live in Nigeria

The Nigerian Bureau of Statistics (NBS) has revealed that in April 2025, the headline inflation rate eased to 23.71% relative to the March 2025 headline inflation rate of 24.23%.

Looking at the movement, the April 2025 Headline inflation rate showed a decrease of 0.52% compared to the March 2025 Headline inflation rate.

The bureau stated this in its April 2025 inflation rate published on its website.

Also, when compared on a month-on-month basis, the April 2024 inflation rate showed an increase of 0.49 percentage points compared to the March 2024 headline inflation rate of 33.20%.

On a year-on-year basis, the Headline inflation rate was 9.99% lower than the rate recorded in April 2024 (33.69%).

This shows that the Headline inflation rate (year-on-year basis) decreased in April 2025 compared to the same month in the April 2024.

The NBS also provided insight into the states that is the most expensive to live in based on the highest inflation rate.

10 states with the highest inflation rate

1. Enugu (36.0%)

Topping the list, Enugu recorded the highest inflation rate in the country. Monthly prices surged 12.3%, suggesting sharp hikes in housing, energy, and transport costs.

2. Kebbi (35.1%)

Though monthly inflation was more moderate at 5.4%, affordability remains a challenge, with high prices reflecting persistent pressure on household budgets.

3. Niger (34.8%)

Inflation in Niger was fueled by a 14.7% monthly rise in prices, likely driven by transport and supply chain shocks.

4. Benue (34.3%)

Benue faces a worsening affordability crisis, with monthly prices jumping 25.6%, raising concerns about access and nutrition.

5. Ekiti (34.0%)

Monthly inflation rose by 11.0%, pointing to acute local supply issues and aggressive price pass-through in April.

6. Nasarawa (33.3%)

A sudden 16.0% monthly jump in overall prices signals a recent shock, likely linked to fuel or logistics disruptions.

7. Zamfara (33.2%)

Despite moderate monthly increases of 4.6%, annual inflation remained high, suggesting long-term cost growth across categories.

8. Abuja (32.9%)

The Federal Capital Territory saw overall inflation rise 9.8%, possibly due to rent, services, or other non-food categories.

9. Delta (31.9%)

Delta’s inflation was driven largely by non-food categories. Monthly prices surged 10.7%, pointing to rising costs in transport, housing, and utilities.

10. Gombe (31.0%)

Closing the top 10, Gombe recorded a 9.0% monthly increase in prices, reflecting persistent inflationary pressure across essential goods.